Labor force participation collapse from younger dropouts not retirees, Zero Hedge nails it, More younger people born to replace older, Labor force should be increasing not decreasing

“People 55 to 64 years old, the first forget-about-retirement generation, are staying in the labor force to an ever greater degree. In 1992, only 56.2% were still in the labor force, in 2012, 64.5% were. Similar for older folks. The participation rate for people 65 to 74 years old jumped from 16.3% to 26.8%. Reality is this: fewer people can afford to retire.”…Zero Hedge January 8, 2014

“11.4%: What the U.S. unemployment rate would be if labor force participation were back to January 2008 levels.” …James Pethokoukis, American Enterprise Institute, June 2013

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

As pointed out at Citizen Wells, there should be an increasing labor force not decreasing. More younger people are born than are left in the aging populations to retire. And older workers are not retiring in droves.

From Citizen Wells November 9, 2013.

Is the repeated emphasis by the Washington Post on the impact of baby boomers on the plummeting force participation rate an intentional lie or just sloppy or biased reporting?

Intentional or not it is a lie.

Citizen Wells first criticized the Washington Post on May 9, 2012 for this false report.

“The Washington Post on May 4, 2012 posted a very misleading article titled “The incredible shrinking labor force.” Is this another example of sloppy or biased journalism or both?”

“The verbage in the top right corner looked suspicious, ”As the most recent recession hits the workforce, larger numbers of baby boomers begin to retire.” Yesterday I called the Bureau of Labor Statistics and discovered that they had not placed those words there. It was the work of the Washington Post.

So why did the Post superimpose that wording about baby boomers on the graph?”

“Critics of the Obama administration have been quick to seize on this as the real reason for the falling unemployment rate. In February, the Republican National Committee released a research note on “The Missing Worker,” arguing that “over 3 million unemployed workers have called it quits due to Obamanomics.”

Economists say the story is considerably more complicated. For one thing, the trend predates President Obama. And while part of the story is clearly that the labor force is shrinking because the bad economy is driving workers out, another significant factor is that baby boomers are beginning to retire early — a trend that has worrying implications for future growth.”
“But a number of economists are arguing that the recession is distracting people from the real story — long-run demographic trends that have nothing to do with the current economy. Baby boomers are starting to retire en masse, which means that there are fewer eligible American workers.”

“So why is the labor force dropping? There are a couple big factors going on here. Older Americans are retiring, younger Americans are going back to school, and many workers have been discouraged by the weak U.S. economy. Here’s an updated breakdown:

1) The aging of America. One big reason the participation rate dropped involves long-run demographic trends that have nothing to do with the current economy. Baby boomers are starting to retire en masse, which means that there are fewer eligible American workers.

Demographics have always played a big role in the rise and fall of the labor force. Between 1960 and 2000, the labor force in the United States surged from 59 percent to a peak of 67.3 percent. That was largely due to the fact that more women were entering the labor force while improvements in health and information technology allowed Americans to work more years.

But since 2000, the labor force rate has been steadily declining as the baby-boom generation has been retiring.”

On November 8, 2013 the Washington Post once again listed older workers retiring first as a cause of the drop. They did, however, add some clarification as if to back off of their position.

“So what’s up with that broader trend? Why has the participation rate been dropping in recent years? There are a couple big factors going on here. Older Americans are retiring, younger Americans are going back to school, and many workers have been discouraged by the weak U.S. economy. Here’s an updated breakdown:

1) The aging of America. One big reason the participation rate dropped involves long-run demographic trends that have little to do with the current economy. Baby boomers are starting to retire en masse, which means that there are fewer eligible American workers.

Demographics have always played a big role in the rise and fall of the labor force. Between 1960 and 2000, the labor force in the United States surged from 59 percent to a peak of 67.3 percent. That was largely due to the fact that more women were entering the labor force while improvements in health and information technology allowed Americans to work more years.

But since 2000, the labor force rate has been declining steadily as the baby-boom generation has been retiring. “

“So what’s going on? One theory is that the weak job market is causing people to simply give up looking for work — they’re crumpling up their resumes and going home. A recent paper (pdf) from the Boston Fed suggested that these “non-inevitable dropouts” might even account for the bulk of the decline.”

The baby boomer generation is known for it’s size. However, due to the growth in the US, recent generations are even larger.

Let’s take the example of those turning 65 in 2014, born in 1949 and those turning 22 in 2014, born in 1992. I chose age 22 to account for college even though some of them entered the work force earlier, if they could find a job.

There were 3.56 million people born in the US in 1949. 85 % or 3.026 million are alive.

There were 4.08 million people born in 1992. Probably at least 4 million still alive.

Let’ assume that all of the people who turn 65 next year retire.

That is still a net gain of about a million potential workers.

As we all know, all of those people do not stop working unless they cannot find a job.

From the CBO.

“The resulting rise in the projected rates of labor force participation for older people is noteworthy. For men ages 62 to 64, CBO projects that the rate of labor force participation will rise from about 52 percent in 2012 to about 55 percent in 2022. For men ages 65 to 69, the projected rate rises from about 37 percent in 2012 to about 41 percent in 2022. The changes for women are similar: The projected rate of labor force participation for women ages 62 to 64 rises from about 44 percent to about 48 percent, and for women ages 65 to 69, the projected rate increases from about 28 percent to about 32 percent. In 2022, the FRA will be 67 only for people age 62 or younger in that year. As that group ages and the FRA gradually becomes 67 for all older people, CBO projects that the labor force participation rate for older people will continue to increase, although at a slower pace.”

“A few days ago we disproved, in what we hoped would be the last time, any insinuation that the collapse in the labor force is due to demographics (a topic we had covered before) when we showed that it was just 10 short years ago that the Bureau of Labor Statistics itself was forecasting an increase in the overall participation rate – here we assume logically that America’s demographic profile was known to its labor market experts in 2004 – only to slowly at first, then very fast, revise it ever lower… and still it was unable to catch up to the unfolding gruesome reality.

Yet somehow, so called finance experts, econ PhDs, central planners and other ivory tower dwellers still refuse to let this topic go, and continue to reference the participation rate and demographics in the same sentence. So to truly end any speculation that the plunge in the labor force is due to “old people”, defined as workers 55 and over, retiring, here is a chart (which in an update of a post we didfirst in October 2012 and it took the rest of the media world only 14 months to catch up) of the cumulative job gains broken down by “young”, or those 16-54, vs “old”, those 55 and over.

Spot something wierd?

It seems that the “old” age worker group – that which is supposed to be bleeding workers to retirement – has had zero job losses since the start of the Depression in December 2007, while it was the “younger” workers who according to the BLS’ Household Survey, have hit the labor cliff and seen their number collapse, dropping as much a 6 million, and only slowly rising, with another 3.5 million jobs left to catch up before pre-recession levels are met.”

Blagojevich appeal judges to receive all wiretap transcripts, Judge James Zagel Order, Why not play all the tapes?, Transcripts to remain under seal from public

“Why did Mutual Bank fire whistleblower Kenneth J Conner after he
challenged the appraisal on the land purchased by Rita Rezko, just
prior to the land sale to Obama?”…Citizen Wells

“I believe I’m more pristine on Rezko than him.”…Rod Blagojevich

“Regardless of how this plays out, it benefits Obama. If there is no appeal or the appeal is denied, Blagojevich will be sequestered. If the appeal proceeds, it could drag out beyond impacting the 2012 election cycle. The intent is obvious.”…Citizen Wells, July 19, 2011

“The ABC7 Eyewitness News I-Team has learned of a victory for imprisoned Illinois former Governor Rod Blagojevich, albeit a small one.

Blagojevich finally has an answer to the question he asked so many times: Why not play all the tapes?

When he wasn’t quoting Kipling or signing autographs at the federal courthouse, former Governor Blagojevich would frequently repeat that line: play all the tapes.

Of course, he was referring to the hours and hours of undercover recordings made by the FBI, only a portion of which were played at trial. Blagojevich believed that if the jury could heard them all he would have been cleared. That didn’t happen but the appellate court will now be able to consider all the tapes.
“Play all the tapes” became Blagojevich’s battle cry at both of his corruption trials.

And Wednesday night it is resurrected as his appeal moves forward.

With the ex-governor tucked in for another dozen years or so at a federal penitentiary in Colorado, his attorneys in Chicago filed a motion in federal court, stating that Blagjoevich’s submitted wiretap transcripts were not filed with the appeals court clerk, comprised of an index and 52 transcripts.”

“Wednesday night Judge James Zagel has authorized turn over of all the transcripts.”

WASHINGTON, DC – Today, U.S. Senator Richard Burr (R-NC) released the following statement regarding the Intelligence Committee’s bipartisan report on the terrorist attacks in Benghazi, Libya.

“Today the Senate Select Committee on Intelligence released the most detailed, bipartisan report to date on the September 11, 2011, terrorist attacks in Benghazi, Libya.

The committee’s report presents a wide range of declassified findings that will allow the public to more fully understand the deteriorating security situation in Benghazi leading up to the attacks, and the lack of State Department recognition of the danger to our personnel.

This bipartisan report is a step forward in our understanding of these events, but should not by any means be viewed as a final verdict. To the extent this report is incomplete, it is not due to the Committee’s unwillingness to investigate, but the State Department’s intransigence. It is our obligation and duty to continue to ask probing questions and investigate all details as they continue to come to light – as they invariably will.

Despite the Committee’s best efforts to investigate all relevant threads of information, I still feel strongly that there remains a disappointing lack of accountability. It is my hope that this bipartisan report will serve as a foundation to continue the discussion and search for answers.”

“Who benefited most from the suicide/murder of Orlando Jones?
Who benefited most from the murder of Donald Young?
Who benefited most from the murder of Lt. Quarles Harris Jr.?
Who benefited most from the suicide/murder of Christopher Kelly?
Who benefited most from the murder of Bill Gwatney?
Who benefited most from the death/murder of Andrew Breitbart?
And now
Loretta Fuddy?”…Citizen Wells

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

The easiest way to sabotage the Cessna 208B Grand Caravan that Loretta Fuddy was traveling in or any other plane is to taint the fuel. Intentially or unintentially.

It has happened before.

This can cause a crash without tampering with the engine.

Consider the following case from 1985.

“A single-engine plane whose crash killed the pilot and 16 skydivers carried contaminated fuel and may have been overloaded, the federal aviation investigators said Monday.

A black discoloration was found in the right fuel tank of the Cessna 208 Caravan, said Jim Burnett, chairman of the National Transportation safety Board. Investigators did not know what had contaminated the fuel, or its source, he said.”

Seventy-seven aircraft were fueled with 100LL that was tainted with jet fuel at Metro Air Center at North Carolina’s Fayetteville Regional Airport between February 10 and 15. Local police and FBI officials were investigating to determine whether the mixing of the two fuels was accidental or intentional.

At least one pilot was forced to return to the airport with engine trouble after refueling from a fuel truck, the Fayetteville Observer-Times reported.

The contamination was traced to a single fuel truck at Metro Air Center, the only refueling operation at the airport. It did not appear that the fuel farm was contaminated. Airport commissioners were told recently that Metro Air Center has now changed fuel ports on the top of its refueling trucks so that they will accept only a certain size nozzle, and the company is now locking openings on fuel trucks.”

“Who benefited most from the suicide/murder of Orlando Jones?
Who benefited most from the murder of Donald Young?
Who benefited most from the murder of Lt. Quarles Harris Jr.?
Who benefited most from the suicide/murder of Christopher Kelly?
Who benefited most from the murder of Bill Gwatney?
Who benefited most from the death/murder of Andrew Breitbart?
And now
Loretta Fuddy?”…Citizen Wells

“Why has Obama, since taking the White House, used Justice Department Attorneys, at taxpayer expense, to avoid presenting a legitimate birth certificate and college records?”…Citizen Wells

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

From the Star Advertiser January 13, 2014.

“Health Director Loretta Fuddy died of cardiac arrhythmia”

“State Health Director Loretta Fuddy died of a cardiac arrhythmia because of stress following a December plane crash off Molokai, a Maui County police spokesman said Monday.

Cardiac arrhythmia is a disturbance in the normal heart beat.

Fuddy, 65, was one of nine people who were on board a Makani Kai Cessna Grand Caravan that crashed into the ocean after take-off about a half-mile from Kalaupapa on Dec. 11 and the only passenger to die.

The pilot and all eight passengers made it out of the plane before it sank. But they had to float in the ocean until the Coast Guard and Maui County helicopters rescued them.

In the water, Fuddy held hands with Health Department deputy director Keith Yamamoto as he tried to help her relax, said Rev. Patrick Killilea, who consoled Yamamoto after the ordeal.

“He recounted how he said he helped Loretta into her life jacket and he held her hand for some time,” the Kalaupapa priest said last month. “They were all floating together and she let go and there was no response from her.””

“Who benefited most from the suicide/murder of Orlando Jones?
Who benefited most from the murder of Donald Young?
Who benefited most from the murder of Lt. Quarles Harris Jr.?
Who benefited most from the suicide/murder of Christopher Kelly?
Who benefited most from the murder of Bill Gwatney?
Who benefited most from the death/murder of Andrew Breitbart?
And now
Loretta Fuddy?”…Citizen Wells

“Why has Obama, since taking the White House, used Justice Department Attorneys, at taxpayer expense, to avoid presenting a legitimate birth certificate and college records?”…Citizen Wells

“Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984″

Why would anyone paying attention not ask the following question:

Was Loretta Fuddy murdered to protect Obama?

From Canada Free Press January 12, 2014.

“What are the chances? The mysterious death of Loretta Fuddy”

“What are the chances that the individual responsible for authenticating Barack Hussein Obama’s long for birth certificate, Loretta Fuddy, just happened to be the sole fatality out of nine on board a small plane that was forced to make an emergency water landing off the coast of Hawaii?

What are the chances that the other passengers either walked away virtually unscathed (according to eyewitness reports) or had only minor injuries while Loretta Fuddy died?

What are the chances that the engine failure just happened to occur over the Alenuihaha channel, recognized as one of the most treacherous channels in the world because of strong winds and high seas?

What are the chances that only incident to mar the otherwise stellar record of Makani Kai Air just happened to be the flight carrying Loretta Fuddy, a most controversial figure in the most controversial issue relating to Barack Hussein Obama’s Constitutional eligibility to hold office?

What are the chances that the National Transportation Safety Board (NTSB), the federal agency in charge of investigating even the slightest incidents involving civil transportation, would not conduct a thorough, on-site investigation that involved a fatality, especially a fatality of a high-profile state employee?

What are the chances that a passenger seated in the rear of the plane, publicly identified as Ferdinand Puentes (seen wearing a United States Federal Marshal cap) would not only have a GoPro video at the ready, but have the mental composure and clarity to record the “crash” and aftermath considering the unexpected, life-threatening circumstances?

What are the chances that this video, or at least portions of it, is suddenly released from nowhere, nearly a month to the day after the “crash” when its existence was never before referenced or acknowledged by crash investigators or survivors?

In my 25-plus years of experience as a career investigator, I’ve seen a lot of strange things that would give one pause and cry out for explanation. Odd things that at first blush seem to defy logical explanation, only to be answered through investigation as mere coincidence (yes, ‘stuff’ does happen) or indicative of something more nefarious. In my professional opinion, the strange death of Loretta Fuddy falls squarely into the latter category.

As I noted in my initial report dated December 13, 2013, Loretta Fuddy’s place in history was forever memorialized when she authorized the release of Barack Obama’s Certificate of Live Birth (COLB) at his request. On April 25, 2011, the month following her appointment as Hawaii’s Director of Health, she certified that she witnessed the copying of the original COLB. The document that was certified as a true copy by Ms. Fuddy was handed to Judith Corely, Barack Obama’s personal attorney, when Corely made a special trip to personally pick up the document instead of sending the document by a private courier, such as Federal Express.

Given her role in the authentication of the controversial document, Ms. Fuddy was named in two affidavits (one public, one sealed) filed in the U.S. District Court, Western District of Washington on October 18, 2013 by Douglas Vogt, citing twenty points of forgery that comprise misprision of treason and misprision of felony. Vogt, with researcher and document expert Paul Irey, investigated the intricacies of the forgery. Mr. Vogt’s affidavit and Ms. Fuddy’s involvement gained national attention when he was interviewed on The Hagmann & Hagmann Report on December 4, 2013, exactly one week to the day before her tragic death on December 11, 2013. The detailed three-hour audio testimony of Douglas Vogt can be heard here, and the report detailing Ms. Fuddy’s possible role here.”

Loretta Fuddy, at the center of the Obama birth certificate controversy, is the only death out of 9 passengers who had minor injuries.

We were told yesterday:

“One of the passengers even swam to shore to try to get help. But not everyone got out alive. One person died in the tragic crash.

“That person remained in the fuselage of the plane. Not much details. Always a difficult situation when you can’t get everyone out, and unfortunately that was the case here,” Capt. Seelig said.”

“Nine people were onboard when the plane took off. One person was pronounced dead, three were flown to Honolulu and taken by ambulance to the Queen’s Medical Center. Another three stayed on Molokai and were hospitalized. The rest did not need any medical help.”

“One of the survivors in a plane crash off Molokai was determined to get everyone out and into their life vests, even swimming a half mile to shore to flag down help!”

“”Nothing like the movies. No one was screaming or yelling, just trying to get out of there. And the way it was filling with water, it seemed the best course of action was to just get out of there,” Hollstein said.

He says everyone did make it out ok and he helped people get into their life vests.

“There was one couple that had their vests. The guy had a seat cushion to his chest leaning back. He couldn’t open it. I went and helped him open it, shoved it over his head, and fired the thing off,” Hollstein said.

Hollstein last remembers seeing Health Director Loretta Fuddy with a life vest on. Then he took off swimming for shore.”

“In the final moments of her life, Hawaii Health Director Loretta Fuddy clung to the hand of her deputy after a small plane taking them back to Honolulu crashed in the ocean off the island of Molokai.

Fuddy, who gained notoriety in 2011 for her role in making President Barack Obama’s birth certificate public, was one of nine people onboard the flight that went down Wednesday. She was the only one who died.

In the water, Fuddy held hands with deputy director Keith Yamamoto as he tried to help her relax, said the Rev. Patrick Killilea, who consoled Yamamoto after the ordeal.

“He recounted how he said he helped Loretta into her life jacket and he held her hand for some time,” the priest said. “They were all floating together and she let go and there was no response from her.””
“Rescue swimmer Mark Peer said when he swam to Fuddy, she was unresponsive and he couldn’t find a pulse.”

“Other details remained sketchy Thursday on how Fuddy, 65, was killed and how the others survived. Molokai General Hospital Vice President Randy Lite said Fuddy’s body will remain at the hospital until an autopsy is conducted.”

“Immediately after the crash, Fuddy’s body was taken to a care home at Kalaupapa, where Killilea, the pastor of Kalaupapa’s St. Francis Church, said he made the sign of the cross on her forehead as she lay on a gurney surrounded by nurses and the distraught Yamamoto.”

“Fuddy and Yamamoto were on the flight after an annual visit to Kalaupapa, where the state exiled leprosy patients until 1969. The area is accessible only by plane or mule.”

“Public records indicate that during this time, every quarter from 2010 through 2012, CGI Group itself was lobbying on “HUD housing management contracts.”
Finally, there’s also a whistleblower lawsuit from a former CGI employee — who’d been recruited from HUD after overseeing the very Section 8 contracts CGI won — alleging that he was fired after refusing to go along with fraudulent plans to work around the bidding process. CGI denies the accusations, but has so far failed to get the case thrown out.”…Washington Post October 23, 2013

“Why was Obama promoting Capri Capital and other investment firms at the same time that Rezko, Levine and Cellini were shaking them down?”…Citizen Wells

“Now, I don’t get upset when foreign and national journalists fail to mention Tony Rezko, or the Daley boys, or how the Chicago machine plans to staff the Department of Justice, and the new Department of Homeland Casinos.”…John Kass, Chicago Tribune July 30, 2008

More Obama crony capitalism failures at taxpayer expense.

From the Washington Times January 10, 2014.

“Finally! White House to replace lead HealthCare.gov contractor”

“The Obama administration plans to replace the lead contractor on HealthCare.gov, the glitchy federal website that hindered the fall rollout of the new health care law, with another company.

Officials plans to drop CGI Federal, after the company took a share of blame for its role in preparing a website that serves 36 states and needed extensive repairs after its Oct. 1 launch, the Washington Post first reported. A major consulting company, Accenture, will take its place.

CGI’s contract runs out at the end of February, and Accenture had built the relatively well-functioning health exchange that California is using to enroll people in private plans or Medicaid under Obamacare, the Post reported.”

“Federal officials considered only one firm to design the Obamacare health insurance exchange website that has performed abysmally since its Oct. 1 debut.

Rather than open the contracting process to a competitive public solicitation with multiple bidders, officials in the Department of Health and Human Services’ Centers for Medicare and Medicaid accepted a sole bidder, CGI Federal, the U.S. subsidiary of a Canadian company with an uneven record of IT pricing and contract performance.

CMS officials are tight-lipped about why CGI was chosen or how it happened. They also refuse to say if other firms competed with CGI, or if there was ever a public solicitation for building Healthcare.gov, the backbone of Obamacare’s problem-plagued web portal.

Instead, it appears they used what amounts to a federal procurement system loophole to award the work to the Canadian firm.”

“The multiple awards were in the form of “task orders” for projects of widely varying size. Over the life of the CGI contract — which expires in 2017 — the IT firm can receive awards worth anywhere from the “$1,000 to $4 billion,” according to a contracting document provided by CGI to the Washington Examiner.

This is apparently the route chosen by CMS officials in awarding the Obamacare Healthcare.gov website design contract to CGI.

Between 2009 and 2013, CMS officials awarded 185 separate task orders to CGI totaling $678 million for work of all kinds, according to USAspending.gov, a federal spending database.The Obamacare website design contract was for $93 million.”

“The first indication of questions of CGI performance and pricing came in February 2010 when the firm protested a $230 million CMS contract award to Computer Sciences Corp. Inc.

In a sharp rebuff to CGI in November 2010, General Accountability Office acting counsel Linda H. Gibson denied the CGI protest.

In doing so, she noted that CSC’s bid was $148 million versus CGI’s bid of $258 million. When CMS modified the terms of its proposal, CSC was still substantially lower, coming in at $223 million versus CGI’s price tag of $395 million.”

“As the Examiner previously reported, CGI in Canada also suffered embarrassment in 2011 when it failed to deliver on time for Ontario province’s flagship project a new online medical registry for diabetes patients and treatment providers.

Ontario government officials cancelled the $46.2 million contract after 14 months of delay in September 2012. Ontario officials currently refuse to pay any fees to CGI for the failed IT project.”

Obama’s history of crony capitalism is extensive and includes another Princeton grad, John Rogers.

From Citizen Wells October 23, 2011.

“Mr. Obama also recently pointed to his work on the Illinois pension issue as a model for what he would do as president to promote minority-owned companies.”

“The goal was always “to open up doors,” said John W. Rogers Jr., the chief executive of Ariel Capital Management, one of the investment firms that received state business. “It was, as the Rev. Jesse Jackson has eloquently put it, to force other industries to have their ‘Jackie Robinson’ moment.””

“During this period, campaign finance records show, executives from Ariel, Loop and two other leading Chicago investment firms, Holland Capital Management and Capri Capital, sharply increased their donations to Mr. Obama’s State Senate campaign fund. And once he began his campaign for the United States Senate, they quickly became a fund-raising core that has carried over into the presidential race.

Mr. Rogers, who is one of three people at his company who have each bundled at least $50,000 in donations for Mr. Obama’s presidential campaign, said that his financial support for the senator had “no connection” to his company’s efforts to win state contracts, but that it reflected the broader excitement over what Mr. Obama’s success meant for blacks in America.”

“Still, things have not worked out as well for some of the investment managers. Both Ariel and Holland were given several hundred million dollars to invest.

But one of the funds dropped Ariel and two dropped Holland last year after their investment returns lagged behind those of other firms.”

“In 2002, the year after Obama made the pitch, the Illinois Teacher Retirement System reported an 18% increase in assets managed by minority-owned firms. Ariel’s share grew to $442 million by 2005.

In 2006, after the federal investigation became public, the teacher pension board severed its relationship with Ariel, concluding that Ariel’s investment returns were insufficient.”